The Industry super funds are losing their funds in millions as people move to control their own super via SMSFs.
There is an army of super fund managers who's cushy jobs are in jeopardy. There are millions of dollars at stake, and the industry funds have a vested interest in the status quo.
SMFS have the ability and powerful motivation to maximise their returns. Industry funds could care less, they have little incentive to invest for the beneficiaries. Consequently they scream blue murder when their source of funds is reduced.Heaven forbid, they might have to actually perform.
A sacred cow is under threat, and boy the banshees are out.
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- Australians demonstably worse off after super changes
The Industry super funds are losing their funds in millions as...
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